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Property profile & analytics
OFF-MARKET
Estimated value
$15,630,000
Commercial real estate
229 Park Ave, Clarendon Hills, IL 60514-1372
Entity Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US28-2516868
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Total area
64,469 SF
Lot
0.53 ac (23,087 SF)
Zoning code
A
APN
09-11-104-003
UPID
US28-2516868
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$10.53M
CAP Approach
CAP
$16.74M
Comparable Approach
Comparable
$11.87M
Blend (final)
Blend
$15.63M
Owner & transaction history
Hp Ventures Group LLC Park Project · 4 yrs held
Hp Ventures Group LLC Park Project
since 2021
Last sale
$19.4M
7 recorded transactions
Zoning & alternative use
A · Clarendon Hills, IL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$22.8M
+63.9%
Restaurant
$20.0M
+44.1%
Medical building
$14.5M
+4.4%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Clarendon Hills submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Clarendon Hills submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
$10,530,000
CAP Approach
CAP Return
Estimation
6%
$18,130,000
6.5%
$16,735,000
7%
$15,540,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$13,915,000
Current use
AUTO REPAIR, GARAGE
$22,810,000
Change: +64% · Conversion: Difficult
RESTAURANT
$20,045,000
Change: +44% · Conversion: Difficult
MEDICAL BUILDING
$14,520,000
Change: +4% · Conversion: Easy
RETAIL STORES
$13,890,000
Change: 0% · Conversion: Easy
OFFICE BUILDING
$11,555,000
Change: -17% · Conversion: Easy
Blend value · Realmo final
$15.63M
Range $14.07M – $17.19M · ±10% · vs last sale $19.35M (Dec 17 2021)
Last sale anchor
$19.35M
Dec 17 2021
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$242 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$173,031
Tax year 2023
Assessed value
$2,900,040
Assessed 2023
Previous assessed
$2,685,220
+8.0% YoY
Effective rate
5.97%
On assessed value
Assessed land
$291,580
Assessed improvement
$2,608,460
Land market value
$874,740
Improvement market value
$7,825,380
Total market value
$8,700,120
Applied tax rate
9,581.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
Off-Market
Heating
NONE
Stories
4
Total area
64,469 SF
Lot
0.53 ac (23,087 SF)
Zoning code
A
APN
09-11-104-003
UPID
US28-2516868
Jurisdiction
DU PAGE
Metro division
CHICAGO-NAPERVILLE-JOLIET, IL METROPOLITAN DIVISION
Zoning & alternative use
A · Clarendon Hills, IL
Zoning A · permitted uses
A · Clarendon Hills, IL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Clarendon Hills. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$13.9M
AUTO REPAIR, GARAGE
Est. value
$22.8M
RESTAURANT
Est. value
$20.0M
MEDICAL BUILDING
Est. value
$14.5M
RETAIL STORES
Est. value
$13.9M
OFFICE BUILDING
Est. value
$11.6M
COMMERCIAL (GENERAL) Current
AUTO REPAIR, GARAGE
RESTAURANT
MEDICAL BUILDING
RETAIL STORES
OFFICE BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Heating
NONE
Stories
4
Lot
0.53 ac
Current owner
From public records · entity-resolved
Hp Ventures Group LLC Park Project
Entity
Mailing address
5000 W LAWRENCE AVE, CHICAGO, IL 60630-3822
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 17, 2021
$19,350,000
Hp Ventures Group LLC Park Project
9 23 Walker Avenue LLC
Special Warranty Deed
$15,480,000 · Jll Real Estate Capital LLC
Aug 31, 2020
—
9 23 Walker Avenue LLC
—
Deed
related
$13,433,000 · Cbre Capital Markets INC
Aug 16, 2019
—
9-23 Walker Avenue LLC
—
Trustees Deed
related
$250,000 · Midland States Bk
Mar 9, 2017
—
9-23 Walker Avenue LLC
—
Grant Deed
related
$9,500,000 · Midland States Bk
Feb 25, 2014
$400,000
9-23 Walker Avenue LLC
Synergy Property Holdings LLC
Grant Deed
—
Jul 22, 2013
$800,000
Synergy Property Holdings LLC
Sheriff Of Dupage County
Trustees Deed
related
—
May 30, 2008
—
Ired Clarendon Hills LLC
—
Trustees Deed
related
$12,259,482 · First Dupage Bank
Sep 8, 2006
$2,000,000
Ired Clarendon Hills LLC
Trust 6360
Grant Deed
$2,170,000 · First Dupage Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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